Chapter 7 Bankruptcy

Arlington Chapter 7 Bankruptcy Attorney

Guidance for the Bankruptcy Filing Process

We understand that you may be going through one of the most stressful times
you have ever experienced; however, you do not have to give up hope. When
you work with our
experienced attorneys, our goal is to make your
bankruptcy process as simple as possible.

Our Chapter 7 clients do not have to pay anything to file. Instead, once
you have filed, you will begin making monthly payments toward your debt
for up to 12 months.

What is the Process of Filing for Chapter 7?

Chapter 7 begins by submitting a petition to your local bankruptcy court.
They then issue an automatic stay that protects you from collection agencies.
The automatic stay goes into effect right away, once your petition has
been accepted.

An automatic stay protects you from:

Debt collection phone calls

Foreclosure

Repossessions

Lawsuits

Wage garnishments

What are the exemptions when filing for Chapter 7?

With Chapter 7 bankruptcy, you are essentially liquidating all of your
non-exempt assets in order to be forgiven your unsecured debt. However,
most of our clients discover that most, if not all, of their assets are
exempt. The proceeds of these assets go towards paying back your creditors.

Property which is exempt from liquidation following filing for Chapter
7 bankruptcy may include:

Clothing and personal effects

Furniture

Insurance policies

One automobile per licensed driver in the household

Your home

Retirement assets

How Weaver Law, PLLC Can Help

Filing for bankruptcy may seem simple, but there are many important decisions
you will need to make. You will also need to have a large assortment of
paperwork and documents to fill out the required forms. Our
Arlington Chapter 7 bankruptcy lawyers can help you every step of the way to guide you towards the best financial
decisions. We want to help you have the greatest chance for a successful outcome.

To set up a free consultation and discuss your options, call our office
now at (817) 783-4491.